Superannuation – employer’s contribution

Superannuation contributions applies if one is at least 18 years old and paid $450 or more (before tax) in a month
From 1 July 2013 – If you’re aged 70 years or over and working you must be paid super if you are eligible.
You may not be eligible if you are paid to do domestic or private work for no more than 30 hours per week.

The employer must pay a minimum of 9.25% of your ordinary time earnings into your super account at least every three months. These contributions are in addition to your salary or wages.

Superannuation Calculation

During the first quarter of the 2013-14 financial year (1 July – 30 September 2013).

Jag ordinary time earnings was $10,000.

The super contribution Jag’s employer must make for that quarter:
9.25% x $10,000 = $925

You can count on us!!
29 William Street Rockdale, NSW 2216
Phone: 0417 673 055